The Global Influencer Market Size is expected to reach a value of USD 109.37 Billion by 2028, at a CAGR of 35.12% over the forecast period (2022 – 2028)
According to the latest research by SkyQuest Technology, the Global Influencer market was valued at USD 13.3 Billion in 2021, and it is expected to reach USD 109.37 Billion by 2028, with a CAGR of 35.12% during the forecast period of 2022 – 2028. The research provides up-to-date Influencer market analysis of the current market landscape, latest trends, drivers, and overall market environment.
Increasing use of smartphones and expansion of the internet to different corners of the world are some of the reasons for increasing screen time of people on online platforms and this in turn gave an amazing opportunity to creators for generating better content and getting a better reach. The brand realized the potential of online platforms and started focusing on tailored ads and displaying relevant ads for a better customer experience. Now small, medium and big businesses are reaching out to influencers for endorsing the products as they are better connected with the audience and the audience could relate more with the influencer and product which make Influencer Marketing an important part of product branding strategy for large companies. Some of the major marketing platforms are Instagram, Facebook, YouTube, and Pinterest for influencer marketplaces around the world.
The analytics and research segment is expected to grow at the fastest CAGR as the need for companies to analyse important factors affecting the campaign promotion, effectiveness, reach, and engagement by the influencer through this segment is growing. However, the research & discovery sector accounts for 35% of the total revenue in the year 2021. This segment helps the companies to find influencers who are appropriate for endorsing the brand using parameters like the customer demographics and the effectiveness of influencer-produced content driving influencer market growth.
The fashion and lifestyle industry accounted for 29% of total influencer market revenue in 2021. Every influencer has a different fashion sense and this is reflected in their audience, this allows the large fashion companies to endorse their fashion products through the influencer for better sales, and better reach to the target consumer. In the year 2021, the second major share of revenue is held by the food and entertainment sector which is around 23% of the total influencer market. The increasing demand for content on top platforms, mobile game tournaments, and music events are some of the reasons for customer engagement on online platforms which helps the Influencer Market growth.
Read the market research report, ” Global Influencer Market segmented By Application (Campaign Management, Search & Discovery, Analytics & reporting, Influencer Management), By End-user (Food & Entertainment, Sports & Fitness, Travel & Holiday, Fashion & Lifestyle, others) & By Region – Forecast and Analysis 2022-2028” by SkyQuest
In 2021, the North American region held the major revenue which is around 30% of the Influencer market and Europe is expected to grow at a CAGR of 32% through the analysis period. Increasing partnership and consumer engagement and the adoption of new branding strategies by large fashion companies through influencers turn out to be highly effective on social media platforms. These are one of the major reasons which will drive the growth in the Influencer Market during the analysis period.